UK DIY News

£198bn European e-commerce market is largest in the world

Europe has the largest e-commerce market in the world, with an estimated total value of €246 billion (£198 billion) according to figures released today.

According to data from the European Multi-channel and Online Trade Association (EMOTA), the European market grew 19 per cent in 2011, overtaking North America for the first time, which has a value of €237 billion.

Online retail sales account for 5.1 per cent of the total value of the European retail market and, while Asia and other regions have seen higher growth rates, the sophistication and competitiveness of the European market attract a huge number of online shoppers.

James Roper, Vice-President of EMOTA and CEO of IMRG, said: “Considering that Europe is currently experiencing an economic crisis, y-on-y growth of 19 per cent is an outstanding performance to become the largest e-commerce region in the world.”

M-commerce is driving growth as retailers continue to expand their omnichannel presence and the UK market has seen significant sales through mobiles and tablets.

Earlier today, fashion retailer Reiss announced the roll out of iPads in its stores to allow customers to browse items online in the hopes of boosting sales.

Consumers are increasingly trusting of shopping via mobile, as the IMRG Capgemini Quarterly Benchmarking Index found in the final quarter of last year that sales via mobile devices in the UK stood at 5.3 per cent, up 1,320 per cent since the launch of the index in early 2010.

Roper added: “Mobile looks set to play an increasingly important role in this growth, as mobile internet access becomes more widespread supported by greater wi-fi availability.

“We are really seeing mobile shopping start to come of age now, with both UK visits and sales through the channel recording extraordinary growth over the past two years.”